STRICKLAND METALS ANNOUNCES MAJOR DISCOVERY AT WARMBLOOD

Warmblood Emerges as a Significant Gold System

Strickland Metals Limited (ASX:STK) is pleased to provide an update on exploration activities at its 100%-owned Horse Well project in Western Australia.

Warmblood

Diamond drilling at Warmblood has returned a very significant result:

HWDD017: 14.4 metres @ 6.0g/t Au from 114 metres (including 7 metres @ 10.6g/t Au).

This is the first hole to test for depth extensions to the mineralisation outside of the current Warmblood resource, with mineralisation appearing to open up and improve at depth.

Mineralisation remains open at depth and down-plunge from this intersection.

Recent multi-element analysis on historic pulp samples shows this trend continuing a further 400 metres to the north of HWDD017 and 1,000 metres to the south, giving a total prospective strike length of 1.4 kilometres that is yet to be adequately drill tested.

Palomino

Additional diamond drilling north of Palomino has continued to expand the primary mineralisation down-plunge beyond the limits of the current resource:

HWDD004: 14.9 metres @ 3.9g/t Au from 222.1 metres (including 2.4 metres @ 10.9g/t Au).

Closer to the surface, further drilling testing the oxide and transitional domains has successfully returned high-grade mineralisation:

HWDD026: 19 metres @ 3g/t Au from 45 metres (including 3 metres @ 12.0g/t Au).
HWRC294: 14 metres @ 2.8g/t Au from 37 metres (including 9 metres @ 4.2 g/t Au).
HWRC295: 16 metres @ 2.4g/t Au from 79 metres (including 7 metres @ 5.1g/t Au).

Assay turnaround times are continuing to be delayed due to factors beyond Strickland’s control. Strickland currently has over 40 sample submissions awaiting assay.

Paul L’Herpiniere, Managing Director of Strickland, said:

The result at Warmblood is potentially a game-changer for the prospect as it demonstrates the possibility for substantial mineralisation at depth. This is the first-time drilling at Warmblood has tested for down-plunge extensions, and indeed the first diamond drilling to have occurred at the prospect. If positive results from Warmblood continue as the Company expects, this extension of mineralisation has the potential to underpin a much larger open pit optimisation.

Results like this, especially when viewed in the context of the defined extents of the associated multi-element geochemical trend, continue to confirm Strickland’s belief in the interconnected nature of the Horse Well prospects, with each primary lode having a north-west plunge. Historical drilling failed to demonstrate the geometry of the mineralisation, while these recent results indicate that the licence area is ripe for additional resource growth and further discoveries.